Latest Stock Market News

Mutual funds invested Rs 10,200 crore in Zomato shares in Q3, making it the most bought stock. Mutual fund holdings increased to 16.42%, while foreign investors reduced their stake. Jefferies downgraded Zomato amid rising competition. Despite this, Blinkit expects significant growth, but competitive pressure from players like Amazon may impact profitability.

IRFC has emerged as the lowest bidder to finance Rs 3,167 crore for the development of the Banhardih coal block in Jharkhand. The project, led by PVUNL, aims to transport coal to the Chetar station via the Mine-Gain-Rail system.

HCL Technologies shares have posted strong returns, climbing 18.5% over the past year and over 36% in the last three years. Analysts maintain a cautiously optimistic outlook for the stock. According to Trendlyne data, the consensus target price for HCL Technologies is Rs 1,932 per share. Out of 42 analysts tracking the stock, 20 recommend a "buy," 16 suggest holding, and 6 advise selling.

Motilal Oswal Financial Services recommends buying Kalpataru Projects International with a target price of Rs 1500. The company reported a 7.33% increase in consolidated total income for the quarter ending 30-09-2024. Future growth driven by a healthy pipeline, improving execution, and stable margins is expected. Promoters held a 35.24% stake as of September 2024.

Reliance Industries Ltd faces three consecutive quarters of declining profits amid global headwinds and weak downstream chemical performance. While the retail business shows mixed results, the digital segment offers some respite. Analysts predict a modest Q3 profit rise driven by recovery in refining margins and contributions from Jio.

Gold and silver surged following softer-than-expected U.S. inflation data. The U.S. core CPI for December came in at 0.2%, lower than the anticipated 0.3% increase. The U.S. CPI on a yearly basis stood at 2.9%, matching expectations.

And if the last three-year numbers are lower than 10 years and 15 years in INR terms and in dollar terms even more so because that 10% depreciation just happened like in 22 and then another four-five since then. So, it is not a matter of discussion. It is what it is.

Santosh Rao believes the Trump agenda is likely to favor market growth for the next two to three quarters. A positive signal comes with the Gaza ceasefire and promising economic indicators. The market sentiment is optimistic, and potential interest rate cuts are anticipated in the latter half of the year.

The Relative Strength Index of the stock stood at 39.7 on Thursday.